Convergence of Greek economy with the EU and some comparisons with Polish experience

The paper aims to analyze economic situation in Greece and in Poland with comparison to the European Union. The basis for the analysis has been made by the theory of economic convergence. The newest statistical data concerning GDP per inhabitant were used in the study. In the analysed countries only for time series approach both unconditional and conditional convergence between the countries was confirmed, i.e. GDP per inhabitant in Greece, Poland and both the EU sections were co integrated. The results of the test for integration and co integration based on the panel data did not support the unconditional convergence.peer-reviewe

Searching for factors of accelerated economic growth : the case of Ireland and Turkey

Purpose: This study analyses the determinants of economic growth acceleration in two completely different sets of institutions provided by two example economies, using a modified threshold error correction model (TECM). Design/Methodology/Approach: The contribution is based on an extended (sequential) methodology related to a set of two-regime threshold error correction models (TECM) that helps to investigate determinants of economic growth in both long run and short run. The validation of the results were prepared using Hansen and Seo test. Supportive role of structural breaks analysis is emphasized. Findings: There exists a set of variables that determine accelerated economic growth patterns. In the export-oriented Irish economy with a stable set of institutions and well educated society the growth has been led by net exports. In the case of Turkey, periods of accelerated growth appeared in short time so the results are much diversified, taking both factors and periods of growth. Practical Implications: It is possible to indicate a diversity of the growth patterns as well as evaluate the economic policy corresponding to them. Originality/Value: The study offers an in-depth insight into econometric modelling of economic growth as well as the fluctuations around it.peer-reviewe

Determinants of using telematics systems in road transport companies

Purpose: The aim of this study is to evaluate the scope of using telematics systems based on GPS/GPRS in the road transport as well as to identify determinants of applying telematics tools to increase the quality in the supply chain. Design/Methodology/Approach: The contribution is based on a review of literature, preparing of a questionnaire-based survey directed to road transport companies and estimating logit models. Findings: It is submitted that there is an observable trend of extending telematics in the road transport. The following variables increase the probability of using telematics systems for punctuality checking in supply chains such as the number of employed persons, importance of telematics for getting new orders, managers’ viewpoints that telematics increases the quality of order processing and forecasting punctuality of loadings as well as speeds up decision-making processes. Practical Implications: Application of IT solutions including telematics in road transport is growing continuously. However, the awareness of managers about possible areas of applying them is still unsatisfactory. The paper reveals the determinants of application telematics in supply chain, which can be used to motivate and train managers to extend its scope in practice. Originality/Value: The study is based on primary data from road transport companies and related to the scope of application of telematics systems in operational management. A logit model is applied to evaluate the determinants of using IT systems in the road transport industry. It may be useful for practitioners and analytics of transport industry to broaden applications of IT solutions.peer-reviewe

Effectiveness of the anti-crisis policy in the period of COVID-19 pandemic in the road transport industry

Purpose: The purpose of the paper is to examine the effectiveness of the tools introduced as the Anti-Crisis Shield Acts, which have been announced by the government of Poland during the pandemic in the road transport industry. Design/Methodology/Approach: The contribution is based on a review of literature, preparing of an original questionnaire-based survey directed for road transport companies and estimating ordered multi-nominal logit, and binary logit model. Findings: Transport industry is particularly sensitive to the business cycle phases due to the fact that limitations in trade are very often the first sign of incoming recession. We found out that the government introduced the Anti-Crisis Shield Act aimed to preserve jobs was widely utilized by the transport industry. Practical Implications: The Polish government similar to other European authorities has introduced a programme to reduce losses in the economy caused by the pandemic. The program was intended to reduce negative short- term consequences of the crisis caused by the COVID-19. The transport enterprises widely used the offered aid although it was directed rather ex post (to reduce) than ex ante (to prevent). Originality/Value: The study is based on primary data obtained from road transport companies and related to the consequences of the COVID-19 pandemic for the road transport industry. The research is fairly up-to-date, since the survey was conducted in June-July, 2020. A logit model is applied to evaluate determinants of the wide use of the government aid by the enterprises useful for practitioners and analytics of the transport industry to forecast probability of economic performance of enterprises.peer-reviewe

Students’ attitudes towards savings and investment : the case of Poland

Purpose: The purpose of the paper is to identify students' attitudes in Poland towards saving and investment and evaluate determinants that influence the probability of accumulating funds and subjective satisfaction of financial results. Design/Methodology/Approach: The analysis was conducted using survey data collected in August 2018. Over 400 questionnaires were collected from Polish students using CAVI method. The structure of the sample corresponds to the target sample of students reported in another research. Statistical methods of analysis are used, i.e., analysis of empirical distribution and its characteristics and correlation measures. Logit regression models for microdata are used to evaluate the impact of factors that determine the probability of saving and investing money. Findings: In the sample, most students were fully aware that savings are important. However, the amount of money they were able to save is not big. Due to the liquidity preference, students typically keep money in ready cash and bank accounts. The factors determining propensity to save, propensity to invest and subjective satisfaction from savings have been specified. Practical Implications: The research results are useful for comparisons with other reports on savings and investment. They are useful for financial institutions policy creation and financial education. Originality/Value: This research's value lies in the original survey prepared under the supervision of a financial institution and applying the advanced econometric methodology.peer-reviewe

Narrow money demand in Indonesia and in other transitional economies – model selection and forecasting

Purpose: This paper aims to incorporate model uncertainty in variable selection and forecasting in the monetarist money demand model and check whether the emerging economies such as the Czech Republic, Poland, Hungary, Russia, Mexico, Brazil, Turkey, India, Republic of South Africa, and Indonesia follow this model in the long-run. The case of the United Kingdom serves as a benchmark for the study. Design/Methodology/Approach: In dynamic econometric modeling, the number of potential explanatory variables increases rapidly, and model uncertainty grows very fast. Consequently, empirical modeling of money demand needs a comprehensive strategy for model selection and forecasting. We use Bayesian averaging of classical estimates (BACE) as an appropriate model reduction strategy. The monetary model serves as the theoretical basis for empirical equilibrium error-correction models (EqCM) and employing the Bayesian averaging of classical estimates (BACE) approach for variable and model selection and forecasting. Findings: Four theoretical and competitive model specifications are proposed and empirically tested. We found that monetary systems in Indonesia and other analyzed economies are both stable and theory consistent. The forecasts generated for Indonesia are accurate. The robustness of the model selection based on the BACE procedure was strongly confirmed. Practical Implications: The proposed procedure is valid for practical application, particularly in dynamic model selection and forecasting. Originality/Value: The novelty of this research lies in employing the BACE approach to model the demand for money with the equilibrium error correction (EqCM) mechanism.peer-reviewe

d-Glucan from Fruiting Body and Mycelium of Cerrena unicolor (Bull.) Murrill: Structural Characterization and Use as a Novel Inducer of Mutanase

Water-insoluble, alkali-soluble polysaccharide (marked as ASP) was extracted from the vegetative mycelium and fruiting body of Cerrena unicolor strain. Monosaccharide examination of ASP demonstrated that the isolated biopolymer was composed mainly of glucose, xylose, and mannose monomers. The methylation investigation of studied polymers indicated that (1→3)-linked -d-Glcp is the major chain constituent (92.2% for glucans isolated from fruiting body and 90.1% from mycelium). 1 H NMR, FT-IR, and immunofluorescent labelling determinations confirmed that the polysaccharides isolated from both fruiting body and mycelium of . unicolor are (1→3)--d-glucans. The obtained (1→3)--d-glucans showed differences in viscosity and similar characteristics in optical rotations. (1→3)--d-Glucans extracted from mycelium and fruiting body of C. unicolor were also used as potential and specific inducers of mutanase synthesis by Trichoderma harzianum. The highest mutanase activity (0.38 U/mL) was obtained after induction of enzyme by (1→3)--d-glucan isolated from the mycelium of C. unicolor, and this biopolymer has been suggested as a new alternative to streptococcal mutan for the mutanase induction in T. harzianum. (1→3)--d-Glucan-induced mutanase showed high hydrolysis potential in reaction with dextranase-pretreated mutan, where maximal degree of saccharification and solubilization of this bacterial homoglucan (83.1% and 78.4%, resp.) was reached in 3 h at 45 ∘ C